The Minneapolis Grain Exchange shattered its daily trade volume record on Tuesday, as traders responded to dry conditions and lower-than-expected crop ratings for U.S. spring wheat. MGEX reported 33,453 contracts traded on Tuesday — a 23 percent increase over its previous record of just over 27,000 in a day. The September spring wheat futures contract… Read More
Tag: Ken Ball
Statistics Canada issued its “final” crop production estimates for 2016 on Tuesday morning, leaving it up to the market to interpret how much crop was harvested after the agency surveyed producers. The November Farm Survey was conducted between October 21 and November 13 — just as farmers in Alberta and Saskatchewan were getting back into the… Read More
Statistics Canada published its annual pre-seeding acreage estimates on Thursday morning. As expected, the planting intentions survey showed Canadian farmers plan to seed more wheat, oats and barley and less canola and soybeans than in 2014 (see chart.) There were some surprises in the report, as the canola acreage projection of 19.4 million acres was almost… Read More
There’s less canola and wheat left from last year’s bumper crop than traders and analysts thought, according to the Statistics Canada stocks report released on Friday morning. Wheat stocks as of July 31st were pegged at 9.8 million metric tonnes, up 94 percent from the same time last year, but generally below expectations. Canola supplies… Read More